Kuwait Fund for Arab Economic Development has granted a loan of USD 51 million for the development of the new Passenger Terminal at Ibrahim Nasir International Airport in Maldives. The loan agreement was signed in a ceremony held at the Ministry of Finance in Male Tuesday 9/8/2016 with the presence of HE the AmbassadorKhalaf Bu Dhhair. Signed on behalf of the Kuwait Fund was by Deputy Director General of Kuwait Fund ,Hisham Al Waqayan and On behalf of Maldivian Government Minister of Finance Ahmed Munawwar. Also present in the signing ceremony was Minister of Economic Affairs of the Republic of Maldives Mr. Mohamed Saeed Regional Director for Eastern ,Southern Asia and the Pacific for Arab Fund Mr. Waleed Al Bahr , The Third Secretary of the Embassy Mr. Bader Al Foraih and many other officials from the Maldivian Government.